Title: Base Metal Prices on the LME Rebound After Yesterday's Sharp Decline

While metal prices are rising, three-month copper on the LME increased by 2.3% to $9,531.50 per ton, aluminum rose by 1.8% to $2,662.50 per ton, and zinc surged by 3.6% to $3,073 per ton.

The main metals saw a slight rebound following a sharp sell-off triggered by Donald Trump's victory in the U.S. presidential election. Copper had finished Wednesday's session down 3.5%.

Citi analysts highlighted that the medium-term outlook for base metals is becoming increasingly uncertain. They stated that the outlook now depends on the scale and timing of the tariffs proposed by Trump on China, as well as China's response. Citi's economists predicted that a 60% tariff on Chinese goods could reduce China's GDP by 2.4% and decrease demand for metals.

Citi holds a generally neutral stance on base metals through early 2025.